Guide to capital gains tax 2016

About this guide

The Guide to capital gains tax 2016 explains how capital gains tax (CGT) works and will help you calculate your net capital gain or net capital loss for 2015–16 so you can meet your CGT obligations. There are links to worksheets in this guide to help you do this.

This guide is not available in print or as a downloadable PDF (Portable Document Format) document.

Who should use this guide?

An individual, company, trust or superannuation fund can use this guide to work out their CGT obligations.

an individual or entity that is not an Australian resident for tax purposes

a company that is the head company of a consolidated group. The rules that apply to members of a consolidated group modify the application of the CGT rules. For more information about the consolidation rules, see Consolidation.

This guide does not cover individuals or entities whose gains or losses are not subject to CGT but are covered under other tax law; for example, gains or losses from:

Our commitment to you

We are committed to providing you with accurate, consistent and clear information to help you understand your rights and entitlements and meet your obligations.

If you follow our information and it turns out to be incorrect, or it is misleading and you make a mistake as a result, we will take that into account when determining what action, if any, we should take.

Some of the information on this website applies to a specific financial year. This is clearly marked. Make sure you have the information for the right year before making decisions based on that information.

If you feel that our information does not fully cover your circumstances, or you are unsure how it applies to you, contact us or seek professional advice.